We have a new blog!

Visit us at rentometer.com/blog to read our latest articles.

May 24, 2021

The pandemic had an impact on rent prices in major cities and neighborhoods across the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S. We will be presenting our findings in a series of year-over-year neighborhood snapshots.

The subject of today’s snapshot is the Italian Village of Columbus, OH. Based upon our analysis, the year-over-year average rents in the Italian Village have 14% growth in 3BR and are negative for 1 and 2 BR units.

Our standard City analysis uses a 12-month LookBack” to establish an average baseline rent. The 12-month LookBack analyzes the rent data from the last 12-months, and for this analysis, the rent data included would be from May 1, 2020 – May 1, 2021.

The results from the 12-month LookBack analysis are presented in the table below:

 

As the table shows, 1BR and 2BR units have decreased their rents by 1% and 5%, and 3BR units increased rent by 14%. As demonstrated by the table, year-over-year performance varied depending on the number of bedrooms.

 

About Rentometer

Rentometer is the #1 tool for comparing residential rent rates anywhere in the U.S. To succeed as a real estate investor, you need solid, current market intelligence to help you set the right rent rates in Columbus. Understanding local rents (and the factors that drive them) can help reduce investment risk, increase occupancy and improve your cash flow – and income. With Rentometer, you have local, current rents available right at your fingertips.

This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.